Why Arcturus Therapeutics Shares Are Moving Higher After Hours

Arcturus Therapeutics Holdings Inc ARCT shares are booming in Tuesday's after-hours session after the company reported fourth-quarter results and provided an update on pipeline progress.

• Q4 Revenue: $160.29 million, beat estimates of $72.68 million
• Q4 EPS: $4.33 beat estimates of 98 cents

"Arcturus has continued to make remarkable operational and pipeline progress. This was recently exemplified by the completion of the initial objectives with our partnered COVID-19 and Flu vaccine programs with CSL," said Joseph Payne, president and CEO of Arcturus Therapeutics.

"We are also pleased to report the completion of full enrollment ahead of schedule in the Phase 3 study being conducted by Meiji Pharma to evaluate ARCT-154 as a booster vaccine for COVID-19."

In the first four months of the company's collaboration with CSL the company triggered $90 million in milestone payments. Arcturus said it eliminated debt during the quarter resulting in an extended cash runway out to 2026.

Arcturus is a global late-stage clinical messenger RNA medicines company focused on the development of infectious disease vaccines and opportunities within liver and respiratory rare diseases.

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ARCT Price Action: Arcturus shares were up 12.90% after hours at $17.50 at the time of writing, per Benzinga Pro.